Oliver Manuel, Sun Life Assurance Co. of Canada managing director for Asia Investment, (left) and Valerie Pama, Slamci president, talk about market trends at a briefing in Cebu City. (CDN PHOTO. CHOY ROMANO)
FINANCIAL firm Sun Life Asset Management Company, Inc. (Slamci) will add 700 more financial managers in Cebu within the year to help them achieve the 20 percent to 30 percent growth this year.
In yesterday’s economic trends briefing, Slamci president Valerie N. Pama said they registered the strongest growth in the region last year ending with at least a billion in revenues from only less than P500 million in 2012.
“In 2013, Slamci’s gross sales in Visayas and Mindanao grew by 12 percent from the previous year, from P488 million to P1 billion. Our asset under management (AUM) also grew by 28 percent, contributing P2.35 billion AUM to the company’s total AUM of P41.13 billion as of December last year,” said Pama.
At present, they have 456 agents and are targeting 700 more to cater to the fast expanding middle class as the area which can now afford to invest.
Slamci managing director for Asia Investment Michael Oliver G. Manuel said that they project a stronger economy this year citing factors like continued high consumer activities, sustained investments and stable government fiscal conditions.
“High consumer spending is fueled by low interest rates which is why people want to buy LED televisions even when it’s bigger than their wall kasi there’s so many zero percent interest offers now,” said Manuel.
There’s also a lot of currency going around according to Manuel which is because of the still strong Overseas Filipino Workers (OFW) remittances and outsourcing industry.